Governments planning a Crypto Crackdown?

[Hydrogen]

It is possible that a crypto crackdown might be accompanied by central banks deploying their CBDCS (central bank issued digital currencies). Who can say for certain what the future holds.

One defense is to encourage mass adoption of cryptocurrencies. The more support BTC and crypto have, the harder it will be for crackdowns to be accepted. If banks were deemed too big to fail in 2008. Cryptocurrencies might survive by becoming too big to fail on their own merits. Bitcoin's trillion dollar market cap is definitely a step in the right direction.

Another defense is people making more of an effort to understand how finance and the economy function. Becoming financially literate is the best way people can protect themselves from being scammed.

It could also be a good policy to prepare alternatives in case crypto bans are someday pushed through. A barter system could be one option. If its not, hopefully someone smarter than I am will come up with a better idea.

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[tippytoes]

Not really worried one bit. Of all those countries wanting to ban crypto, a lot others are still positively aiming to get to crypto first and establish their dominance in the crypto space. Also, a lot of huge companies are also keen on getting that number one status when it comes to cryptocurrencies, so the number of countries banning crypto and taking a piss on it is insignificant when paired with those who want to develop their own space with it, together with a lot other huge companies that already have their feet wet.

Just take a good example of China. China is influential and giant country, and yet, they can't topple the crypto market. So banning by other governments will not significantly  affect the crypto market. It is their loss actually to participate in this market. I have the feeling the later on, these governments who are cracking down crypto will change their stance if they see that more progressive countries are actually accepting its existence.

[Wawa2013]

Not really worried one bit. Of all those countries wanting to ban crypto, a lot others are still positively aiming to get to crypto first and establish their dominance in the crypto space. Also, a lot of huge companies are also keen on getting that number one status when it comes to cryptocurrencies, so the number of countries banning crypto and taking a piss on it is insignificant when paired with those who want to develop their own space with it, together with a lot other huge companies that already have their feet wet.

Just take a good example of China. China is influential and giant country, and yet, they can't topple the crypto market. So banning by other governments will not significantly  affect the crypto market. It is their loss actually to participate in this market. I have the feeling the later on, these governments who are cracking down crypto will change their stance if they see that more progressive countries are actually accepting its existence.

China is well known for taking crackdowns on cryptocurrencies most of the time, so they are among the countries that ban Bitcoin the most.
Because the Chinese government considers Bitcoin a threat to the digital Yuan, but everyone knows the effect is only temporary. Because Bitcoin
will continue to grow and the price of Bitcoin will continue to rise,  so if there is news that says some country is planning to act decisively on crypto,
no need to worry and panic. Because I believe there will always be other countries supporting crypto, however it is very difficult to get everyone
to support Bitcoin. No matter how good Bitcoin is, there will always be Bitcoin haters. Let it be for the country that decides to ban Bitcoin, will regret
later to see Bitcoin growing rapidly. Eventually they will realize they decision was wrong, and could soon change their minds to support Bitcoin.

[yazher]

Recently, many governments have been showing increasing animosity against Cryptos. While the US is preparing to launch a Blockchain surveillance plan, other countries such as Sweeden are showing signs of moving towards a crypto crackdown by criminalising mining.

Should we be worried about this?

They've been trying their best to sabotage the success of bitcoin but their plan has not been successful since then. I think they just made some kind of noise to stop the advancement of its price next year which cannot be stopped by them if people only saw the positive fact far from their claim. They already tried to link crypto mining to one of the causes of global warming. Now they try their best to make it worse by claiming to make some so-called surveillance which they already have the answers on their notes.

[michellee]

Not really worried one bit. Of all those countries wanting to ban crypto, a lot others are still positively aiming to get to crypto first and establish their dominance in the crypto space. Also, a lot of huge companies are also keen on getting that number one status when it comes to cryptocurrencies, so the number of countries banning crypto and taking a piss on it is insignificant when paired with those who want to develop their own space with it, together with a lot other huge companies that already have their feet wet.

Just take a good example of China. China is influential and giant country, and yet, they can't topple the crypto market. So banning by other governments will not significantly  affect the crypto market. It is their loss actually to participate in this market. I have the feeling the later on, these governments who are cracking down crypto will change their stance if they see that more progressive countries are actually accepting its existence.

Hopefully, the government will not ban or prohibit crypto instead give a free to their people so their people do not have to worry if they are breaking the rules. Maybe they can crack down on crypto but not forever. As long as the internet will still operate in that country, crypto will continue to reach more people from that country. I think the ban is only temporary because after the government sees how they can benefit from crypto and get more taxes from the crypto user, they will release the banning and allow their people to use crypto as before.

[Obito]

The mining sector would definitely have to be worried but I don't think that it's the day to be worried especially if you're in a country that doesn't have any plans on cracking down on cryptocurrencies and I don't think that we will probably see those crackdowns a permanent thing, I mean look at India, they're on an on and off relationship with crypto for years now so it's not far that other countries might have the same direction towards crypto.

[cheezcarls]

In my perspective, crackdowns would never stop and it may happen anytime without warning, even in my home country. It’s really expected that when crypto goes mainstream and the number of people who are using it have increased, the governments are gonna pay attention to that.

I would like them to regulate cryptocurrencies at least, not banning them like China and other countries who are anti-crypto. On top of that, I am in favor of them taxing our unrealized gains because this is totally absurd especially that the market is highly volatile.

[asgru]

Recently, many governments have been showing increasing animosity against Cryptos. While the US is preparing to launch a Blockchain surveillance plan, other countries such as Sweeden are showing signs of moving towards a crypto crackdown by criminalising mining.

Should we be worried about this?

For physical persons, cryptocurrency cannot be banned. And for a crypto business, it will always be possible to find a jurisdiction loyal, for example Estonia

[kryptqnick]

Recently, many governments have been showing increasing animosity against Cryptos. While the US is preparing to launch a Blockchain surveillance plan, other countries such as Sweeden are showing signs of moving towards a crypto crackdown by criminalising mining.

Should we be worried about this?

Two countries is not enough to talk about governments planning a crackdown. My country's government, for instance, is actually planning to adopt cryptos over the years and create a favorable regulatory framework for crypto businesses and owners because they see it all as a way of helping out our economy. Then there's El Salvador that embraced Bitcoin like nobody else. India, China and Nigeria show worrisome things, but none is 100% against cryptos yet, and they also don't constitute the majority of the world. I think that overall the situation is okay and cryptos aren't likely to be banned in the majority of the world. Regulations can be strict at some places or restrict certain activities, but it's not the end of the world.

[Questat]

Recently, many governments have been showing increasing animosity against Cryptos. While the US is preparing to launch a Blockchain surveillance plan, other countries such as Sweeden are showing signs of moving towards a crypto crackdown by criminalising mining.

Should we be worried about this?

This is worrisome as although our countries may not be affected but it will hinder the global adoption we are hoping for crypto. This action of the government will not kill bitcoin since there are also countries that are legalizing bitcoin, so it will still continue to exist, however, it will only be limited due to harsh restrictions implemented by some countries.

The purpose of bitcoin is decentralization and anonymity, if they'll kill that purpose, there's no reason it will progress.

[BIT-BENDER]

Recently, many governments have been showing increasing animosity against Cryptos. While the US is preparing to launch a Blockchain surveillance plan, other countries such as Sweeden are showing signs of moving towards a crypto crackdown by criminalising mining.

Should we be worried about this?

It's getting to become a global war intentions from government in crypto-currency, my country has laid out plans using police, banks and financial institution, to bring down peoples enthusiasm for Bitcoin, but what I have found out from when the government started to clamp down on Crypto-currency transactions, users an enthusiast is that not even the government is big enough to kill Crypto space/excitement and interest, and then they -my countries government- tried out starting their own crypto, which was always not going to be successful.

[tygeade]

Recently, many governments have been showing increasing animosity against Cryptos. While the US is preparing to launch a Blockchain surveillance plan, other countries such as Sweeden are showing signs of moving towards a crypto crackdown by criminalising mining.

The thing is that I don’t really know how they plan on going about this. The government can do just about anything to make sure that they accomplish their plans. Well, I would say not to get all worried up right now, best to calm down and wait till we see what follows next before we start to react. But on the part of banning mining, I think we should be worried about that one, because cryptocurrency is being mined by big companies these days and can easily be tracked by the governments and shut down.

So, if Sweden should decide that they are going to ban cryptocurrency mining, that wouldn’t be a difficult case for them to handle, it would be easy for them to do that, just like China did. I’m just hoping that governments stop their madness on bitcoin, seriously it’s annoying.

[FatFork]

The mining sector would definitely have to be worried ...

Could this be a good thing for crypto in general? I mean, if large mining farms were banned in countries with cheap electricity, there might be a rise in the number of small (domestic) miners, leading to greater decentralization.

[ChiBitCTy]

As much as I hate to admit it, when asking whether we should be concerned about government wanting to "crackdown" on cryptocurrency my answer to that questions would be heck yes.  Bitcoin and other cryptocurrencies can certainly exist even if the government tried putting out a full ban on it , but it's going to make it much more difficult for it to succeed.  Most people aren't going to want to go through the trouble of wanting to do OTC transactions which will make the entire ecosystem that much more difficult to use and operate in.

[Dhaniii]

Recently, many governments have been showing increasing animosity against Cryptos. While the US is preparing to launch a Blockchain surveillance plan, other countries such as Sweeden are showing signs of moving towards a crypto crackdown by criminalising mining.

Should we be worried about this?

Such cases often occur in all sectors, especially the market competition sector. so there is no need to worry about such an event, because it can cause panic selling everywhere. bitcoin has entered the world-class investment and everywhere has begun to adopt bitcoin, so that the government can no longer control the global economy.

[blackened515]

The heart of the matter is that government all over the world are always afraid of what they have no control over.
What they don't know is that no amount of crackdown will stop crypto.
Here in my country,  banks closes the account of any customer using their account for trading Crypto. But despite that, the crypto community is growing by the day. Crypto is something the government needs to study to understand how it works, so they can use the technology behind it in solving problems but their pride won't allow it , rather they would want to crackdown on it. I consider it a misplaced priority.

That's the main reason why I think Government are also against Bitcoin. Because Bitcoin is uncontrollable. If you observe very well, you will notice that the Government are always afraid of anything that is out of their control.  But come to think of it, will cracking down Crypto probably put a end to Bitcoin? I don't think so, rather it will make it more popular. For example, the number of Bitcoin users in Nigeria increased after Cryptocurrency was banned in the country. Bitcoin has come to stay, and it will be nice if the government embrace it.

[jostorres]

Recently, many governments have been showing increasing animosity against Cryptos. While the US is preparing to launch a Blockchain surveillance plan, other countries such as Sweeden are showing signs of moving towards a crypto crackdown by criminalising mining.

What else we could expect from governments? I am not referring any government here but when cryptocurrencies are trying to take away control from governments on momentary system then definitely they will try to protest to enjoy the continuing control and dominance in monetary system. Worldwide all countries are literally believing that just getting revenue from taxation alone will not enough for them but they need to be the only source for issuing money hence government definitely will try to regulate/ban cryptocurrencies; we must expect that.

Fortunately bitcoin will not get impacted in long run by any kind of stand by the governments. This is true only for bitcoin and only for long run but in short term people might consider government stands as negative and may react.

[galambo]

Currently or in the long term?
Bitcoin has proven its ability to move despite all the restrictions that have been imposed or may be imposed on it, and therefore I will not be worried unless there is a global consensus to adopt strict laws or ban Bitcoin, which is something I do not expect to happen due to the difficulty of most countries of the world agreeing on something related to money.

Therefore, there may be a direct effect in the short and medium term, but it will not affect the long term.

There is no way government or institute can ban the decentralized crypto. Governments can only restrict centralized exchanges like binance but there is no way they can restrict p2p cash transfer on decentralized blockchains like BTC. We need to first understand what decentralized crypto is, if you got what is such news wont effect you.

[freedomgo]

The heart of the matter is that government all over the world are always afraid of what they have no control over.
What they don't know is that no amount of crackdown will stop crypto.
Here in my country,  banks closes the account of any customer using their account for trading Crypto. But despite that, the crypto community is growing by the day. Crypto is something the government needs to study to understand how it works, so they can use the technology behind it in solving problems but their pride won't allow it , rather they would want to crackdown on it. I consider it a misplaced priority.

That's the main reason why I think Government are also against Bitcoin. Because Bitcoin is uncontrollable. If you observe very well, you will notice that the Government are always afraid of anything that is out of their control.  But come to think of it, will cracking down Crypto probably put a end to Bitcoin? I don't think so, rather it will make it more popular. For example, the number of Bitcoin users in Nigeria increased after Cryptocurrency was banned in the country. Bitcoin has come to stay, and it will be nice if the government embrace it.

If only the government is friendly to crypto, then we can live without personal attacks for crypto and all this plans for crypto crackdown. Yes, the government is always capable to create plans just to put and end for crypto but in the real sense, the more we ban crypto, the more it gets closer to the people. I agree that this is the reason why the government is totally against on crypto because no matter how many threats they have for crypto, until now crypto is still fighting for its decentralization. And there's no way we can control such a decentralized crypto because it will always move to reach its goal no matter how the government reacts on it. So better for the government to embrace it than keeping it rejected.

[Yamifoud]

Recently, many governments have been showing increasing animosity against Cryptos. While the US is preparing to launch a Blockchain surveillance plan, other countries such as Sweeden are showing signs of moving towards a crypto crackdown by criminalising mining.

Should we be worried about this?

let these things be done and to see what will happen next. if you were worried and can't afford to hold or invest, maybe it was time to move on and secure your funds before it is going to happen. Because for me, I'm still in faith, and no matter what the government will do just to shutdown crypto, they still never win. This only causes chaos for a better start and huge adoption in return.
And in fact, they have been doing this long-time before but nothing happens and crypto still growing and growing day by day, proven they can control it.